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BUSINESS NEWS LOS ANGELES’ AFRICAN AMERICAN BUSINESS LEADERS NAME BALFOUR BEATTY PUBLIC WORKS CONTRACTOR OF THE YEAR The Greater Los Angeles African American Chamber of Commerce honors Balfour Beatty with its Public Works Contractor of the Year Award as part of its annual Economic Awards program. The GLAAACC awards program recognizes individuals, small businesses and corporations who have contributed to the economic growth and development of the African American small business community. “At Balfour Beatty, we recognize that intentional efforts create positive and significant impact in our communities,” said Brian Cahill, Balfour Beatty president in California. “Which is why we partner with organizations like GLAAACC to provide opportunities, mentoring and scholarship funding to empower minority businesses as well as future generations. It’s an honor to be recognized for our work in the field and in the community. We are even more grateful for GLAAAC’s support in providing our company along with many other local organizations with unlimited opportunities to develop working relationships within Los Angeles’ small business community.” For four decades Balfour Beatty has been

building and promoting the economic growth and development of the Greater Los Angeles community through its ongoing efforts to deliver projects such as the LAX Automated People Mover, Hamilton High School Modernization, Heart of Los Angeles Performing Arts Center and San Gabriel Valley Aquatics Center. In partnering with GLAAACC, Balfour Beatty provides small businesses with job opportunities for these projects which has helped to exceed small business participation and inclusion goals. Balfour Beatty has also supported GLAAACC events including business development seminars for members, charity drives and business mixers. As part of its commitment to making long- term investments in the communities it serves, Balfour Beatty is an active contributor to GLAAACC’s Education Fund and Foundation Scholarship program which awards scholarships to graduating high school students in the Los Angeles area. The company, as part of LAX Integrated Express Solutions joint venture team, awarded $120,000 to this program and most recently, Balfour Beatty donated scholarships to two Hamilton High School students interested in architecture, engineering and construction careers. The scholarships were named in honor of

Mayor Karen Bass who is an alumnus of Hamilton High School. GLAAACC has been active in its advocacy and support of African American business enterprise by providing a variety of programs and services to assist in their growth and development. GLAAACC works to combine the resources of the African American business community and other business organizations in order to secure solutions for expanding business opportunities. In addition to lobbying to city, state and federal lawmakers on issues affecting business enterprises, GLAAACC assists in providing information, resources and referrals to the community at large. Balfour Beatty is an industry-leading provider of general contracting, at-risk construction management and design- build services for public and private sector clients across the United States. Headquartered in Dallas, Texas, the company performs heavy civil, rail and a broad variety of vertical construction. The company is held by Balfour Beatty plc, who is global leader in international infrastructure with interests in Hong Kong, UK and US. Balfour Beatty US is ranked among the top domestic building contractors in the United States by Engineering News-Record.

service businesses, cash flow, and working capital really well. I expect accuracy in all things and especially any reporting, because anything less calls into question all of our reporting and jeopardizes our credibility with lenders, investors, and employees. People like this ARE out there. They won’t be the cheapest and they may want to become an owner. Maybe a little grey hair can be valuable, too, for the person in this role. They won’t all be young folks with CPAs and MBAs from Ivy League business schools, either. They could be someone with a bachelor’s degree from a state school who worked their way through college. They have to be highly engaged and involved in everything. The right financial manager is invaluable. He or she will make your job easier, less stressful, and more fun. So what do you think? Do you have the right person in the job or is it time to make a change? And if you do need to make a change, do you have the courage to confront the problem or are you just going to let it go on? Let me know your thoughts! Mark Zweig is Zweig Group’s chairman and founder. Contact him at mzweig@zweiggroup.com.

MARK ZWEIG , from page 5

lots of little mistakes. Their spreadsheets have errors that they don’t see (and they should). They give you too much information and cannot discern what’s most important. They see themselves as reporters of results versus generators of results. That means they are waiting for everyone else to do their job. They don’t know how to work with banks to maximize available credit before it is needed. They don’t understand capitalization and ownership transition and how to raise more capital and finance ownership buybacks. They don’t understand what makes the company more valuable. They don’t understand the tax implications of various decisions. They don’t know how to get landlords to pay for buildouts. They don’t know how important it is to get the owners of the business off any personal guarantees or pledging of other assets they may have for collateral for loans. I could go on here but you probably get the idea. If I am looking for a top-level financial manager, I am looking for someone who is going to be functioning as a real partner in the business, whether or not they actually become an owner in it. I want someone who is highly engaged and that I will be talking to a lot every day throughout the day – someone with broad-based business knowledge who understands

THE ZWEIG LETTER SEPTEMBER 30, 2024, ISSUE 1555

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